I am not quite sure how inventories will rise substantially?
So many places do JIT inventories (Just in time) and ordering is up in part due to shortages (ordering more because only getting partial deliveries), and not all places are automatic backorders (order more now, get regular order and never order or get the rest) and some backorders have to be opted in.
There are places that claim they are updating their manufacture to be able to provide more, bullets come to mind. Most of the manufacturing equipment I am aware of, is pre WWII and both running full speed and being patched together (wore out), with it not being cost effective to manufacture that equipment often. One part of the shortage was due to a manufacturer going out of business/bankrupt, but now they have been bought out and restarted, prices have come down, while demand is still high. Nobody I have talked to expects to ever get as low as 2019 levels anymore.
Restaurant I am aware of, has been going this whole time. Was given a warning of an expected shortage and like most, if it has a shelf life, can get more while the supply is there, to hopefully get through the rough patch, or they remove items from the menu/adapt if perishable.
Meat plants, may put out more (normal levels), as covid restrictions ease up on spacing, but it has always been a commodity market.
As for cobblers, they still exist in industries (amputee/chiropractic shoes, high end boots, etc), however they are as uncommon now as farriers were common in the 18th and 19th centuries.